Are Curacao-Based Crypto Casinos Safe?

With the surge in crypto casinos, we thought it was the right time to explore one of the key aspects: licenses in Curacao. From how to obtain a license to the best casinos on the island, as well as the advantages and disadvantages… we’ve got you covered.

If you’ve checked out a crypto casino, the chances are you’ve noticed that many are licensed in the Caribbean island. So, Crypto Lists are going to give you a comprehensive 101 on whether it’s safe to play on these casinos and what are the best things about casinos with this particular licensing jurisdiction.

Read about verifying Curacao licenses here.

About Curacao

Curacao is an Island located South of the Caribbean Sea. It operates under the umbrella of the Kingdom of Netherlands and is home to a rich mix of European and Caribbean cultures. The island is one of the top cruise destinations for voyagers. Tourists visiting Curacao enjoy contrasting architectural styles, several beaches, colorful street art, and wonderful local cuisines.

Curacao has an open economy supporting high standards of living. The island’s legal system makes it a corporate tax haven. However, it does adhere to the EU Code of Conduct against harmful tax practices. This makes Curacao a popular jurisdiction for the gambling sector, particularly online crypto casinos.

Which is the biggest crypto casino in Curacao?

Some of the top online Curacao-based crypto casinos are, Bitstarz, 7Bit, and Wazamba Casino, BC. Game, Wild Tornado, and Stake. Top casinos on the local mainland include Wind Creek Carnaval, Sahara Casino, and Curacao Poker.

What is needed to get a gaming license?

A potential casino operator has to fulfill certain requirements to receive a license from CEG. These include:

1. Create a local entity in Curacao with a director including their personal and financial data

2. Have a local company representative

3. Provide personal and business information via a questionnaire, including physical addresses, after which they will receive available offers via email.

4. Pay a €750 fee to show commitment after setting up a preferred payment option

5. Have a solid business plan and KYC compliance.

6. Attend a compliance interview. If successful, the applicant receives a CEG interactive verification seal (code snippet) for incorporation on licensed websites.

CEG considers only serious applicants with nil criminal records. The application process may be assisted by an intermediate.

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Which is the smallest crypto casino in Curacao?

Low-rated Curacao-based crypto casinos include Bingo Billy Casino, Markobet Casino, Queen Casino, Eldorado Casino, and K9Win Casino.

Is there a tax on Curacao-based crypto casinos?

Casinos licensed with Curacao are levied with 0% tax on gross gaming revenue and zero on corporate tax. When considering revenue originated outside of Curacao, no tax is charged on any of the income to the Curacao gaming company. For players, tax incurred depends on where you live. European citizens incur taxes which they report themselves.

Which casino games are available on crypto casinos from Curacao?

Players have a wide range of gaming categories, such as Roulette, video poker, Baccarat, Keno, Sports betting, Casino games, Bingo, Slots, Card games, and Lotteries. Top developers for Curacao-based crypto casinos include Pragmatic Play, Evolution Gaming, 1X2 Gaming, Spribe, Apollo Games, Platipus Gaming, AuthenticGaming, Belatra games, BGaming, Nolimit City, EGT, blueprint Gaming, Habanero, Gameart, iG Tech, Mr. Slotty Games, Push Gaming, Merkur Gaming, NetEnt, Lucky, Neon Valley Studios, Relax Gaming, Red Tiger, Genesis Gaming, Sigma Gaming, Thunderkick, Spinomenal, Gamevy, zillion games, Mascot Gaming, BetSoft, Quickspin and Slingshot studios.

Which is the newest Curacao-based crypto casino?

Some of the latest crypto casinos licensed under Curacao comprise Wild Casino, Bovada, Las Atlantis, El Royale Casino, Everygame, Slots. Iv, BetOnline, Cafe Casino, and Super Slots.

Can you use other deposit methods?

Most Curacao-based crypto casinos do not transact primarily using cryptocurrencies. They also accept popular fiat payment methods such as credit cards, debit cards, wire transfers, VISA, MasterCard, Skrill, Neteller, Paysafe, ecoPayz, Instadebit, and Webmoney. The payment methods vary across the different casino platforms.

Is there a way to do chargebacks from Curacao casinos?

A legitimate chargeback claim can be filed to a casino through the player’s bank at a fee. The bank assumes the responsibility of conducting a thorough investigation into the case and determining your eligibility for a chargeback. The bank then contacts the casino for further investigation into the claim. If it is clear that the chargeback is justified, your bank will initiate a refund.

For many Curacao casinos, chargeback requests often result in account closure until a valid explanation is received. The platforms are mostly not liable for any loss, costs, damages, or expenses arising from their websites or involvement in the games.

What can happen if you do a chargeback?

There are different possibilities in case you file for a chargeback from a Curacao casino. If a player can successfully request a chargeback through the respective bank, the casino platform takes responsibility for the fraudulent transactions or risk losing customer loyalty. If the casinos get hit with numerous chargebacks within a particular time frame, their payment processing provider may penalize the business with fees or neutralize their contract. Another scenario is where the casino bans the complainant completely from its platform. If the chargeback was filed maliciously, the player can face criminal charges or have their bank accounts closed indefinitely.

Pros for casinos with a Curacao license

• Zero VAT tax on profits.
• Enhanced security for users
• Access to a wide selection of service providers.
• Easier integration of new currencies.
• Better games and bigger rewards for players.

Cons for casinos with a Curacao license

• They forbid access to players from several countries like the USA, France, Netherlands, and Curacao.
• There is a dependence of sub-license holders on Master license holders.
• It is challenging to obtain a new master’s license.
• No other oversight apart from the standard KYC, AML, and CFT regulations.
• Possibility of unregulated gambling.

How can I complain about a crypto casino from Curacao?

Complaints towards Curacao-based crypto casinos are filed with Curacao eGaming’s Intermediate Complaint Handling. Operators handle legitimate complaints within seven business days in line with set policies. Curacao eGaming (CEG) only handles complaints about the complaint handled by the designated operator.

Where can I learn more about Curacao casino licenses?

You can access information on Curacao casinos’ Gaming License and how to apply for one here. It includes the B2C license, B2B Accreditation for either of the 14 critical gaming services, and a License Verification Certificate. The site also gives insights on B2B disputes, brand updates, Alternate Designation Updates, Rules and Regulations on AML, and operational matters relating to the end user.

How can I start my own crypto casino in Curacao?

Superb question, and we’ve got a how-to guide just for you. In short, it’s not a quick and simple process, even if you choose to white label it. Once you’re set up with a solid team in place, you can start applying for your license.

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